The funds will provide additional working capital to finance a development program at Flour Bluff and the drilling of the large Sugarloaf Prospect, both in Texas, said the company. It will also contribute towards new exploration opportunities in Texas and Louisiana.
"The Gulf Coast is our core area for now," Stewart said.
"We now have A$7.5 million available for developing our current projects and pursuing new ones, and we are keen to expand our operations."
In mid-September, Aurora acquired a 12.5% interest in the 80 square-kilometre Sugarloaf prospect in southern Texas. At the time, the company said it was one of the largest undrilled structures in the onshore US.
The farm-in well will target gas reserves of about 800 BCF at about 5200 metres depth in a deep growth fault structure.
The field has upside gas reserve potential of several trillion cubic feet, according to Aurora.
Aurora executive chairman Jon Stewart said this was potentially a company-making prospect for his firm.
Meanwhile, the East Flour Bluff joint venture announced last month that the prospect could contain larger reserves than first thought.
The East Flour Bluff currently contains a 3P reserve of 23 billion cubic feet of recoverable gas, but has a further 44BCF potential in Frio Massive, J and K sands following exploration at two wells, said the companies at this time.
Aurora holds a 16.67% interest in this project.
